Crunchbase News recently profiled a selection of U.S. companies’ largest VC raised in 2018, and no surprise here: the 10 largest rounds all topped out well north of $100 million.
A major driver of global venture dollar growth is the relatively recent phenomenon of companies raising $100 million or more in a single venture round. We’ve called these nine and 10-figure deals, which shine brightly in the media and are hefty enough to bend the curve of VC fund sizes upwards, “supergiants” after their stellar counterparts.
And like stars, venture-backed companies tend to originate and co-exist in clusters, while the physical space between these groups is largely empty.
We noticed that many of the companies behind these supergiant rounds are headquartered in just a few metro areas around the United States. In this case, it’s mostly just the SF Bay Area, plus others scattered between Boston, Los Angeles, San Diego and one (Magic Leap) in the unfortunately named Plantation, Florida.
The San Francisco Bay Area is perhaps one of the best-known tech and startup hubs in the world. Places like Boston, NYC and Los Angeles, among others, are perhaps just as well-known. But how do these cities stack up as clusters for companies raising supergiant rounds?
That question got us wondering how these locales rank against other major metropolitan areas throughout the world. In the chart below, we’ve plotted the count of supergiant venture rounds1 topping out at $100 million or more through November 5. These numbers are based off of reported data in Crunchbase, exclude private equity rounds and do not account for deals that may have already been closed but haven’t been publicly announced yet.
Although U.S.-based companies have raised more supergiant rounds (168 year to date) than their Chinese counterparts (160 year to date), Chinese companies raise much bigger rounds, even at this supergiant size class.
How much more? U.S. companies have raised $38.4 billion, year to date, in nine and 10-figure venture rounds alone. Chinese companies have raised $69 billion across their 160 supergiant deals, which includes the largest-ever VC deal: a $14 billion Series C round raised by Ant Financial.
2018 in perspective
2018 is already a record year for venture funding worldwide. With more than $275 billion in projected total venture dollar volume so far, 2018’s year-to-date numbers have already eclipsed 2017’s full-year figures (a projected $220 billion, roughly) by more than $55 billion.2
And there’s still about eight weeks left to go before it’s New Year’s Eve.
- We use the same classification rules for what is and is not a “venture” round as we’ve used in our quarterly reports. Check out the methodology section of our most recent global VC report, from Q3 2018, to learn more about how Crunchbase News categorizes rounds.
- We’re referring to the same type of projected data we use in the quarterly reports. Check out the methodology section of our most recent global VC report, from Q3 2018, to learn more about how Crunchbase News uses projected and reported data.
This holiday, check your old phone for a fat battery
I found something in a junk drawer this week that was at first exciting, then alarming. In the drawer was an old smartphone that I’d not powered on for several years, at least. Cool, I’ll just start it up and time travel back to the point at which I last turned it off, right? But wait a moment here… this phone is significantly thicker than it was when I last saw it. This is not good.
Why did this phone get thick?
The thickness came from a chemical failure of the device’s lithium ion battery. I’d never opened this device before – I never had a reason. The only reason a person might open up a device like this would be to fix a component inside, or replace a component inside.
We’ve seen this sort of thing happen in a bunch of phones over the past decade, from all sorts of manufacturers. Most of the time we see this sort of thing happen, it’s because new phone users are working with off-brand plugs and such.
With a phone that’s been left in a drawer for several years, there’s a chance the chemical-based setup within will… fail. If you see this sort of thing happen, you have a few options and at least one NON-OPTION.
What to avoid
One NON-OPTION is charging the device. Do not charge the device. Do not plug your phone in to any sort of wire, nor set your device on any sort of wireless charger. You absolutely do NOT want to agitate the battery package if at all possible.
Can I fix a swollen battery? No, you can not fix a swollen battery. The deed is done. The only thing left to do is isolate the battery and/or the phone with the battery inside before you contact a professional.
Do NOT put your phone in the fridge or make any attempt to “cool it down.” The expansion is not temperature-dependent. The expansion cannot simply be reversed.
Do not do ANYTHING that may result in you piercing the battery’s protective layer. If you do that, the battery may explode and start a fire. See our feature Where to put your old phone batteries to see some explosions, courtesy of batteries that’ve been disposed of incorrectly.
What needs doing
It is not easy to open most smartphones not meant to be opened – especially one like this, held together with glue AND clips, with no easily accessible screws. The manufacturer of this phone, Samsung, did not build this phone with the intent that it be easily opened or its hardware replaced (or even removed) by the average user.
As such, you’ll more than likely want to seek the assistance of a professional. Gadget repair specialists are used to seeing this sort of thing – it happens far more often than you’d think. They’ll know how to safely remove the battery and potentially replace the battery IF that is possible.
There’s a real possibility that your phone will need to be brought to your city’s official landfill. You may want to call ahead, as your city’s waste management specialists will want to take special care of the battery and the phone to avoid an explosion and/or fire.
What if today is a holiday?
If you find an expanded battery in a smartphone and it is a holiday, chances are your local battery-handling professional won’t be available to dispose of your fire hazard of a phone. The LEAST you can do is place the battery (or the phone with the battery inside) in a safe place. Isolate the phone and/or the battery – away from paper, away from anything flammable.
Get the device outside as quick as possible if you can. Put the device in a fireproof container, like a metal bucket with a layer of sand inside. Above all else – get this thing isolated so WHEN it starts on fire, it’ll cause minimal damage.
This advice was as good a decade ago as it is today. New smartphones, tablets, laptops, wearables, etcetera, still use lithium ion batteries, and lithium ion batteries still fail.
Take caution, and don’t take a risk. This one’s full of fire.
Nokia 9.3 PureView might be a no-show this year
HMD Global has flooded the market with affordable Android phones but its track record on higher tiers has been less impressive. To date, only the Nokia 8 Sirocco and Nokia 9 PureView can be considered top-tier, at least based on the premium Snapdragon chips they’re carrying. The latter’s successor would have not been on par, at least based on the earliest information we had, but it would have given the PureView brand yet another stab at the market. Unfortunately, that won’t be happening any time soon, as the Nokia 9.3 PureView has reportedly been delayed to 2021.
The Nokia 9 PureView was quite the oddity, though it wasn’t surprising considering HMD Global partnered with mobile camera company Light. It utilized five co-equal cameras to independently take shots of the same scene and stitch them together into a single hi-res image. It mostly delivered on that promise but left plenty of room for a version 2.
By late 2019, Qualcomm seemed to be quite excited for a Nokia 9 PureView successor that would showcase its Snapdragon 765’s capabilities despite not being an 8-series processor. It might have disappointed some who were hoping for a true Nokia premium flagship. For better or worse that successor never came, which ironically leaves the door open for a better device.
Twitter user @Nokia_anew now claims that the Nokia 9.3 PureView has been pushed back to 2021. When that will be is still unknown but it might be sometime in the first half of the year. That potentially means HMD could switch to using a Snapdragon 875 but, considering its preferences for mid-range to entry-level chips, we won’t be too optimistic about the chances.
Even more concerning, however, is the absence of a Nokia PureView in 2020, which could call into question HMD Global’s ability to even make one now that Light is out of the mobile market. The company still has to come out with a new high-end phone but, then again, Nokia was better known for flooding the market with innumerable phones anyway.
Samsung NEON artificial humans could be on Galaxy phones soon
AI and machine learning have become the buzzwords of today’s tech world and news but, save for a few exceptions, people envision them as disembodied voices like Siri or even impersonal bits and bytes that silent work miracle behind computer screens. At CES 2020 earlier this year, Samsung and its subsidiary Star Labs showed off AI that was both relatable but also eerily too human. As if it wasn’t enough to have them standing at arms’ length on wall-mounted displays, it seems that Samsung is toying with the idea of bringing NEON to phones soon.
The idea behind NEON is just as bewildering as it sounds. These artificial humans aren’t Siri, Cortana, or Alexa made digital flesh. They are, instead, mean to be virtual equivalents of persons, using AI to express emotions and reactions in a human-like way. Rather than being virtual assistants, they are more like virtual friends.
The COVID-19 pandemic that exploded just a few weeks later may have thrown a wrench in Samsung’s plans to demonstrate the kind of product it wants NEON to be. While the idea of a virtual companion might be attractive to some, having those confined to a life-sized screen on a single wall in your house breaks the illusion it tries to offer. For better or worse, it seems that Samsung wants you to take your NEON with you in the future.
Star Labs president and CEO Pranav Mistry, whose list of achievements include the Samsung Galaxy Gear and Samsung Project Beyond 3D capture system, revealed on Twitter that NEON was already running on his phone. Given his employer, we can only presume it’s some high-end Samsung Galaxy phone. He also shares that the public will be able to see this combination next month.
That still doesn’t exactly clarify what NEON is for, aside from being a showcase of Samsung’s AI chops. Granted, it might have more practical value on a mobile device than on a wall but it will probably be only a matter of time before uncanny valley makes humans uncomfortable with their digital counterparts.
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